The odds for Kevin Hassett’s nomination as the next chair of the United States Federal Reserve surged following hints by President Donald Trump during a recent White House event.

Trump introduced Hassett, referring to him as a ‘potential Fed chair’ and expressively endorsed him:

“It’s a great group, and I guess a potential Fed chair is here too. I don’t know, are we allowed to say that, potential? He’s a respected person, that I can tell you. Thank you, Kevin.”

Earlier, in a cabinet meeting, Trump noted they had narrowed down the candidates for the position to one individual.

“I think we probably looked at 10 and we have it down to one,” he elaborated.

Betting odds on the blockchain-based prediction market Kalshi for Hassett’s nomination jumped to 85%, a marked rise from around 66% after Trump’s statements. Polymarket showcased similar trends in betting patterns.

Hassett, who was appointed as a director in the National Economic Council in January 2025, has been recognized for his crypto-friendly stance, notably having a $1 million stake in Coinbase and having previously overseen the digital asset working group. With Jerome Powell’s term concluding in May 2026, Trump’s previous comments about Powell have been critical, indicating a challenging relationship since his presidency began.

The search for the next Fed chair is led by Treasury Secretary Scott Bessent, who emphasized a softer governmental approach and the need for the Fed to remain less in the limelight, steering a path that serves the public interest effectively. While the Fed doesn’t directly regulate cryptocurrency, its monetary policy decisions hold significant sway over market sentiment, which can greatly influence the crypto landscape.